Oil prices fall on surge in Covid-19 in India and Japan
Despite this, it is expected that Opec+ will ease supply restrictions from May
26 April 2021 - 11:50
London — Oil prices fell almost $1 on Monday on fears that surging Covid-19 cases in India will dent fuel demand in the world’s third-biggest oil importer, while an expected supply increase from oil cartel Opec and its allies, including Russia (Opec+) also added to pressure.
Brent crude was 89c, or 1.4%, lower at $65.22 a barrel by 8.46am GMT. US West Texas Intermediate (WTI) crude was down 87c, or 1.4%, at $61.27 a barrel...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.